Saturday, June 26, 2010

With Congress having finalized a strong Wall Street reform bill, the President urges Congress to finish the job and send the bill to his desk. The legislation reflects 90% of what the President originally proposed, including the strongest consumer financial protections in history with an independent agency to enforce them. It ensures that the trading of derivatives, which helped trigger this crisis, will be brought into the light of day, and enacts the “Volcker Rule,” which will make sure banks protected by safety nets like the FDIC cannot engage in risky trades. It also creates a resolution authority to wind down firms whose collapse would threaten the entire financial system. Wall Street reform will end taxpayer funded bailouts and make sure Main Street is never again held responsible for Wall Street’s mistakes.

Hopefully this will get passed very soon. If the GOPers just don't filibuster this as well. We need this to be done. Does it address everything... NO... but it is a good bill all in all.

We have to stop this no regulation and no rules era we have been living in. It has caused more problems in this country than anything else we have in place.

Please, take a minute to write, call or somehow get in touch with your Congressperson and express your support for this.

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About Me

I am an old truck driver who is lost on the information highway. My map is torn and the road is under construction. The GOP says no infrastructure and the Dems can't get their stuff together. Now what??